A quick turnaround today as the ASX rebounded more than 100 points to earn back yesterday’s slump. Early strength came from strong leads from overseas markets before RBA Governor Lowe fired up the buyers even more after saying the ‘outsized interest rate hikes’ had likely come to an end. Tech was the main winner as a result, along with real estate and discretionary stocks, while a bounce in iron ore helped support the materials sector.
A poor session for the ASX today with weakness amongst the Energy, Utilities, & Material stocks dragging down the broader market while IT & Healthcare edged higher. That in itself tells an interesting story given bond yields traded sharply higher overnight (US 10 years +15bps) while a similar but less aggressive trend played out in Australia today (Aussie 10 years +5.5bps). Higher value IT & Healthcare generally struggle under that scenario however today they benefitted from a move out of those sectors more exposed to global growth - Energy & Materials hit by more than 2% a pop.
The ASX was positive / strong early considering no trade in the US overnight, a more positive session in commodities the catalyst however an 11am peak and all one way traffic from there, with another leg lower following the RBA’s decision to hike rates by another 0.50%.
A positive start to the trading week with the ASX defying the negative lead from the US and weakness in Asia to push higher into the close – Energy the standout as Coal & Oil stocks grind ever higher while weakness was more obvious across the telcos.
No one wanted to go home long on Friday afternoon it seems with the ASX 200 losing ~40pts in the last 2 hours of trade, giving back an early lead following a decent recovery from the lows in the US overnight. Employment data is due out tonight and that will have a big bearing on where interest rates go in the short term, market expectations are for +298k jobs to be added while the unemployment rate will stay stable at 3.5% - clearly still a very tight labour market.
The market was hit hard today following weakness overseas and a raft of ASX companies trading ex-dividend - BHP had the biggest bearing trading Ex $2.4707 fully franked taking 46pts off the ASX 200, simply a huge influence on our little market these days!
A soft open following a 1% decline in the US overnight, however, traders stepped up to the plate in a big way pushing the ASX 200 +50 pts above the session lows. The IT and Financial stocks led the charge to end what can only be called a flat month for the ASX overall, the index fell just -0.09% for August which covers up some big moves under the hood.
The ASX bounced back today following a 2% sell-off yesterday with the IT & Energy stocks leading the charge as we trickle towards the end of a hectic reporting period.
A sea of red for a Monday with the ASX pulling back ~2% following a more hawkish Federal Reserve on Friday night. While indications point to peak inflation having passed, the rhetoric from the Jerome Powell strongly implies that we’re not yet peak rates which is obviously a negative for equities, however when we stand back and look at bond yields which edged higher but not by a lot, the volatility index which settled around 25 (which is low), we’re not...
A strong end to what turned out to be a flat week for stocks, although a very busy one from a reporting standpoint. Energy the standout up 6% while the Staples sector fell by the same degree, around 10% of the ASX 200 moved by 10% or more showing the influence of results, the best of them coming from one of our holdings in Altium (ALU) while City Chic (CCX) took the gong on the other side, losing a quarter of its value.
A poor session for the ASX today with weakness amongst the Energy, Utilities, & Material stocks dragging down the broader market while IT & Healthcare edged higher. That in itself tells an interesting story given bond yields traded sharply higher overnight (US 10 years +15bps) while a similar but less aggressive trend played out in Australia today (Aussie 10 years +5.5bps). Higher value IT & Healthcare generally struggle under that scenario however today they benefitted from a move out of those sectors more exposed to global growth - Energy & Materials hit by more than 2% a pop.
The ASX was positive / strong early considering no trade in the US overnight, a more positive session in commodities the catalyst however an 11am peak and all one way traffic from there, with another leg lower following the RBA’s decision to hike rates by another 0.50%.
A positive start to the trading week with the ASX defying the negative lead from the US and weakness in Asia to push higher into the close – Energy the standout as Coal & Oil stocks grind ever higher while weakness was more obvious across the telcos.
No one wanted to go home long on Friday afternoon it seems with the ASX 200 losing ~40pts in the last 2 hours of trade, giving back an early lead following a decent recovery from the lows in the US overnight. Employment data is due out tonight and that will have a big bearing on where interest rates go in the short term, market expectations are for +298k jobs to be added while the unemployment rate will stay stable at 3.5% - clearly still a very tight labour market.
The market was hit hard today following weakness overseas and a raft of ASX companies trading ex-dividend - BHP had the biggest bearing trading Ex $2.4707 fully franked taking 46pts off the ASX 200, simply a huge influence on our little market these days!
A soft open following a 1% decline in the US overnight, however, traders stepped up to the plate in a big way pushing the ASX 200 +50 pts above the session lows. The IT and Financial stocks led the charge to end what can only be called a flat month for the ASX overall, the index fell just -0.09% for August which covers up some big moves under the hood.
The ASX bounced back today following a 2% sell-off yesterday with the IT & Energy stocks leading the charge as we trickle towards the end of a hectic reporting period.
A sea of red for a Monday with the ASX pulling back ~2% following a more hawkish Federal Reserve on Friday night. While indications point to peak inflation having passed, the rhetoric from the Jerome Powell strongly implies that we’re not yet peak rates which is obviously a negative for equities, however when we stand back and look at bond yields which edged higher but not by a lot, the volatility index which settled around 25 (which is low), we’re not...
A strong end to what turned out to be a flat week for stocks, although a very busy one from a reporting standpoint. Energy the standout up 6% while the Staples sector fell by the same degree, around 10% of the ASX 200 moved by 10% or more showing the influence of results, the best of them coming from one of our holdings in Altium (ALU) while City Chic (CCX) took the gong on the other side, losing a quarter of its value.
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